NOWECO Management Software

Press Release

Risk Management Software

Risk Register - Risk Management Software conforming to AS/NZS 4360

London, UK - November 2003 - NOWECO, the distributor of management software provides with Risk Register, the risk management software to manage general organisational risks related to people, property, reputation, assets and the environment.

Risk Register is a software that manages risks and risk treatments following the world's leading risk management standard AS/NZS 4360, but also meets the risk management requirements of many other International standards.

Risk Register does not only follow the basic intent of the standard, but has advanced functionality to lighten your workload, as listed below:
- Risk Register statistics - one screen tells you what's happening
- Top 10 risks - the report you give to senior management
- Risk Status Report - sliced and diced to suit yourself
- Owners (people or entities) are allocated to risks and their treatments
- Owners' daily reminders - reviews and treatments due and overdue
- Choice of risk matrix - 5x5, 9x9, and risk count per cell

The most important criterion in evaluating risk management systems has typically been their ability to help assess risks, that is, in estimating the likelihood and consequences of any number of impacting events. However, in today's volatile security and financial environment, risk management systems must take on a wider role of risk management rather than merely risk assessment.

The system scope must also include risk treatments, risk treatment cost-benefit, risk treatment monitoring and tracking. These functions can be the most complex and labour intensive for risk personnel, and the most costly for organisations.

The eight modules of Risk Register are:
- Risk Assessment as recommended by AS/NZS 4360 covers the identification, analysis and evaluation of risks.
- Risk Treatment Wizard helps you identify and select appropriate treatments.
- Risk Treatment Management to manage treatment (including dates, costs and benefits, retained loss).
- Risk Treatment Cost-benefit allows you to select the most cost effective treatments.
- Risk and Treatment Ownership Automation ensures all risks and their treatments are owned by someone.
- Risk and Treatment Review and Tracking notifies owners when risk reviews and treatment actions are due.
- Value at Risk Analysis to quickly assess all risks by risk category, project, asset, department or organisation.
- Risk and Register Status Reports: extensive reporting on risks / effectiveness of the risk management process.

Risk Register , a development by Incom Pty. Ltd., Australia, costs as single user license EUR 360.

On further information please contact:
Andreas E. Fiedler
Fischerfeldstr. 15
60311 Frankfurt am Main, Germany
Tel.: +49/69/21995271
Fax: +49/69/21995272